The trading time of futures contracts is fixed. Every exchange has strict rules on trading hours. Generally, it is open for 5 days every week, and it is closed on Saturday, Sunday and national holidays. Generally, each trading day is divided into two periods, namely morning period and afternoon period. The morning session is 9:00- 1 1:30, and the afternoon session is 1:30-3:00.

Terms of delivery

Commodity futures contracts stipulate the physical delivery month, and generally stipulate several delivery months, which are chosen by traders themselves. For example, the delivery months stipulated by the Chicago Board of Trade for wheat futures contracts are July, September, 65438+February, March and May of the following year. Traders can choose their own trading month to trade. If traders buy contracts in July, they will either close their positions before July or make physical delivery in July.

Last trading day clause

Refers to the deadline for futures contracts to stop trading. Every futures contract has a certain month limit. On a certain day in the contract month, the trading of the contract will be stopped and the physical delivery will be prepared. For example, the Chicago Board of Trade stipulates that the last trading day of corn, soybean, soybean meal, soybean oil and wheat futures is the seventh trading day from the last trading day of the delivery month.

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